## Shadow Banking: Economics and Policy

_Staff Discussion Notes, December 4, 2012_

## Source details

**Canonical URL:** [Shadow Banking: Economics and Policy](https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/shadow-banking-economics-and-policy-40132)

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## Bibliographic details
- Authors: Stijn Claessens, Lev Ratnovski, Manmohan Singh
- Published: December 4, 2012
- Series: Staff Discussion Notes
- DOI: https://doi.org/10.5089/9781475583588.006

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### Summary
- This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and suggests implications for measurement and regulatory approaches.

### Authors and Publication
- By Stijn Claessens, Lev Ratnovski, Manmohan Singh
- December 4, 2012
- Staff Discussion Notes

### Key Findings and Focus Areas
- Basic economics of the shadow banking system.
- Systemic risks related to the shadow banking system.
- Implications for measurement approaches.
- Implications for regulatory approaches.

### Subjects and Keywords
- Subject: Banking, Collateral, Commercial banks, Financial institutions, Financial sector policy and analysis, Financial services, Securitization, Shadow banking, Systemic risk
- Keywords: asset management complex, bank holding, Collateral, Commercial banks, dealer bank, dealer-bank business model, financial stability, financial system, Global, hedge fund, interest rate, macroeconomic policy, macroprudential regulation, monetary policy, private sector, SDN, Securitization, securitization process, Shadow banking, short-term debt, Systemic risk, U.S. dollar

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_Source: https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/shadow-banking-economics-and-policy-40132_